Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

Ron and Gail strive to provide new offerings and entertainment options for their visitors. This type of strategy can be best described as ________.

Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________.

Why should mission statements be market oriented instead of product or technology oriented?

According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness.

The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan.

A market segment consists of consumers who respond in different ways to a given set of marketing efforts.

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

One valid criticism of the four Ps concept of the marketing mix is that services are not considered.

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which different marketing activities are headed by operational specialists.

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

Amor, a successful brand of women's clothing, recently introduced a line of fitness equipment. This is an example of ________.

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.

By harvesting its SBU, a company would most likely be ________.

Market segmentation can be best described as the process of ________.

How do marketers measure return on marketing investment? Why is this figure difficult to assess?

Refer to the scenario below to answer the following questions. Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a popular family attraction with 20 rides, a restaurant, and an outdoor performing arts theater. "My wife, Gail, and I didn't know what we were getting into," commented Ron Hart, the owner. "We just knew that weekenders coming to the lakes in our rural area represented an untapped market." Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even senior citizens who enjoy strolling through the gardens and the arbors. "There's something here for everyone," Gail Hart said with a smile. "Dozens of companies hold annual company picnics here. We have welcomed class field trips. And we even had one wedding here at the park!" "Here's the funny thing," Ron chimed in. "We really don't know why we've been so successful. There is nothing else like Fun-Spot Fun Park in the area. We were just lucky." "I think it's the ambience of the park that has brought so many visitors," Gail added. "We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time for variety." Ron and Gail Hart admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "Like the park's motto at the entrance reads, 'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly." -Ron and Gail plan to lower prices in an effort to encourage customers to stay longer, visit more often, and spend more money during each visit. What type of strategy are Ron and Gail planning?

What type of strategy should a company use to manage its cash cows?

Which of the following is true with regard to strategic planning?

Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________.